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It's tax time again and I tend to get questions this time of year about reporting of benefits. Health plans that provide coverage to same-sex couples and domestic partners require some special consideration for tax purposes so let's review some of the key issues. The first is verification of status. Some employers voice to me concerns over asking for marital status for fear that requiring enrollees to identify potential same-sex partners is tantamount to discrimination. But
February 17 -
There’s no sense in denying it: Since its launch in 2004, Facebook’s effect on the Internet, the way we share and receive information, and the way we interact with one another has been profound and irreversible. I remember getting smacked with this reality once, as I updated my Facebook status while sitting in a movie theater waiting for “The Social Network” to start, and again as I watched a cable news report that invited viewers to
February 16
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Government is perhaps the last employer segment that provides benefits that liken to those retiring baby boomers remember: A strong pension plan and paternalistic health care benefits.
February 15 -
Heath savings accounts are the hot ticket item in private sector benefits these days. On Monday, Bank of America announced a record 34% growth in health savings accounts in 2011, adding more than 50,000 accounts last year. The growth is attributed to increases in account use among employees of existing corporate clients, and new relationships with individuals and employers.
February 14 -
A woman whose firing from her job over a request to pump breast milk was supported by a Texas judge said last week the decision was unfair and discriminatory, and her lawyer said an appeal was under consideration.
February 14 -
Financial advisers have turned decidedly more optimistic about the markets prospects for 2012, according to an SEI Quick Poll. Nine in 10 of the advisers surveyed in early February, including bank advisors, say they expect a positive return for the S&P 500 in 2012, up 18% from a similar survey conducted in mid-January. More than six in 10, 63%, predicted gains greater than 5%, a sentiment that spread dramatically from just three weeks ago.
February 14 -
Six federal agencies have issued a final rule requiring insurers to provide to consumers at the time of enrollment a plain-English summary of benefits and coverage, and a uniform glossary of terms.
February 14 -
The number of Americans signing up for unemployment benefits unexpectedly fell last week, the latest sign of recovery in the labor market.
February 13 -
Despite evidence that younger investors are well-positioned to benefit from long-term retirement savings less than half (45%) plan to contribute to an Individual Retirement Account for the 2011 tax year, according to research.
February 13 -
A growing number of younger participants in 401(k) retirement plans are investing in target-date funds, according to a recent analysis. Using data from the EBRI/ICI 401(k) database, Employee Benefit Research Institute finds that the percentage of recently hired 401(k) participants with two or fewer years of tenure holding TDFs jumped from 43.6% in 2008 to 46.6% in 2009 increasing slightly to 47.6% in 2010.
February 8
